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Stock Market & Financial Investment News

News Breaks
May 28, 2014
08:32 EDTBX, BEEStrategic Hotels to buy remaining interest in Hotel del Coronado for $210M
Strategic Hotels & Resorts announced last night that the company has signed an agreement to acquire the remaining 63.6% ownership interest in the 757-room Hotel del Coronado for $210M. The company currently owns a 36.4% ownership position in the asset through a joint venture with certain affiliates of Blackstone Real Estate Partners VI (BX). The transaction values the asset at a gross value of approximately $787.0M, net of approximately $18.0M of cash currently held at the property and within the joint venture, and includes the assumption of the existing $475.0M mortgage financing. The net purchase price represents a 14.3 times multiple on forecasted 2014 EBITDA and a 6.2% capitalization rate on forecasted 2014 NOI. Management estimates the to-be-acquired 63.6% interest in the hotel is projected to generate an incremental $19M-$21M of EBITDA for the remainder of 2014. In Q1, RevPAR grew 11% at the property resulting in 21% EBITDA growth. The transaction, which is subject to certain closing conditions, is expected to close in the second quarter of 2014.
News For BEE;BX From The Last 14 Days
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November 20, 2014
16:01 EDTBXBlackstone to puchase GE Japan's residential real estate
Blackstone (BX) announced that funds affiliated with Blackstone Real Estate Partners Asia will make an investment in connection with an agreement to acquire GE Japan's 100% owned residential real estate business for over „190B. The business owns and operates more than 200 residential properties, consisting of over 10,000 units primarily in Tokyo, Osaka, Nagoya and Fukuoka.
10:02 EDTBEEOn The Fly: Analyst Initiation Summary
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06:35 EDTBEEStrategic Hotels initiated with an Outperform at RBC Capital
Target $14.
November 19, 2014
09:21 EDTBXHilton working with Jones Lang LaSalle on sale of Sydney hotel, Bloomberg says
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06:46 EDTBXBlackstone planning conservative fund with long time horizon, Reuters says
Blackstone is looking to launch a new investment vehicle that would last for more than ten years and invest in slower growing, safer companies than most private equity funds, according to Reuters, which cited multiple unnamed sources. The fund would also use less debt and charge lower fees, the news service added. Reference Link
06:38 EDTBXBlackstone to buy Orica's Chemicals business for A$750M
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November 18, 2014
09:27 EDTBEEStrategic Hotels agrees to acquire Four Seasons Resort Scottsdale for $140M
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07:56 EDTBXColumbia Management announces strategic initiative with BAAM
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07:29 EDTBEEDeutsche Bank to hold a conference
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06:37 EDTBXBlackstone to sell 1095 Ave. of the Americas for $2.25B, WSJ reports
Blackstone Group will Manhattan office tower for about $2.25B to a venture led by Canadian property investor Ivanhoe Cambridge, the Wall Street Journal reports, citing sources. If completed, the sale of the 1.2M square-foot tower at 1095 Ave. of the Americas would be the second most expensive sale of an individual building in U.S. history, the WSJ says. Reference Link
November 14, 2014
08:15 EDTBXBlackstone may urge U.S. probe to speed sale of Waldorf, NY Post says
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November 13, 2014
06:08 EDTBXBlackstone implied volatility of 22 at lower end of index mean range
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November 12, 2014
10:00 EDTBEEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advent Software (ADVS) initiated with a Neutral at BofA/Merrill... Agios Pharmaceuticals (AGIO) initiated with a Buy at Canaccord... Ashford Hospitality (AHT) initiated with a Neutral at Credit Suisse... AvalonBay (AVB) initiated with a Neutral at Credit Suisse... Berkshire Hills Bancorp (BHLB) initiated with a Buy at Compass Point... Boston Properties (BXP) initiated with an Outperform at Credit Suisse... Brandywine Realty (BDN) initiated with a Neutral at Credit Suisse... Brookline Bancorp (BRKL) initiated with a Neutral at Compass Point... CNH Industrial (CNHI) initiated with an Underperform at Macquarie... Camden Property (CPT) initiated with a Neutral at Credit Suisse... Care.com (CRCM) initiated with a Buy at Craig-Hallum... Corporate Office Properties (OFC) initiated with an Underperform at Credit Suisse... DCT Industrial (DCT) initiated with an Underperform at Credit Suisse... DDR Corp. (DDR) initiated with a Neutral at Credit Suisse... Demandware (DWRE) initiated with a Buy at Mizuho... DiamondRock (DRH) initiated with a Neutral at Credit Suisse... Douglas Emmett (DEI) initiated with a Neutral at Credit Suisse... EastGroup Properties (EGP) initiated with an Underperform at Credit Suisse... Equity One (EQY) initiated with a Neutral at Credit Suisse... Equity Residential (EQR) initiated with a Neutral at Credit Suisse... Essex Property Trust (ESS) initiated with a Neutral at Credit Suisse... Forest City (FCE.A) initiated with an Outperform at Credit Suisse... General Growth (GGP) initiated with a Neutral at Credit Suisse... Host Hotels (HST) initiated with a Neutral at Credit Suisse... Hudson Pacific (HPP) initiated with an Outperform at Credit Suisse... Kilroy Realty (KRC) initiated with an Underperform at Credit Suisse... Kimco Realty (KIM) initiated with an Outperform at Credit Suisse... LaSalle Hotel (LHO) initiated with an Outperform at Credit Suisse... Macerich (MAC) initiated with a Neutral at Credit Suisse... MasterCard (MA) initiated with a Hold at Topeka... NetApp (NTAP) initiated with a Buy at Maxim... Pebblebrook Hotel (PEB) initiated with an Outperform at Credit Suisse... Prologis (PLD) initiated with an Outperform at Credit Suisse... RLJ Lodging Trust (RLJ) initiated with an Outperform at Credit Suisse... Regency Centers (REG) initiated with a Neutral at Credit Suisse... Ryerson (RYI) initiated with a Buy at Deutsche Bank... SL Green Realty (SLG) initiated with an Underperform at Credit Suisse... Simon Property (SPG) initiated with an Outperform at Credit Suisse... Strategic Hotels (BEE) initiated with a Neutral at Credit Suisse... Sunstone Hotel (SHO) initiated with an Outperform at Credit Suisse... Taubman Centers (TCO) initiated with an Outperform at Credit Suisse... UDR, Inc. (UDR) initiated with a Neutral at Credit Suisse... VWR (VWR) initiated with a Neutral at Citigroup... VeriFone (PAY) initiated with a Buy at Topeka... Visa (V) initiated with a Hold at Topeka... Vornado (VNO) initiated with a Neutral at Credit Suisse... Westfield Financial (WFD) initiated with a Buy at Compass Point... XPO Logistics (XPO) initiated with an Outperform at Cowen.
November 11, 2014
16:15 EDTBEEStrategic Hotels initiated with a Neutral at Credit Suisse
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November 10, 2014
07:10 EDTBXHoward Hughes secures $600M non-recourse construction loan
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